The global 3D printing plastics market size is expected to reach USD 2.83 billion by 2027, according to a new study by Grand View Research, Inc. The market is projected to register a substantial CAGR of 23.7% during the forecast period, due to rising demand from various end-use industries such as medical, automotive, aerospace and defense, and consumer goods. Properties such as clarity in the image, high durability, high impact resistance, excellent UV and temperature resistant, sliding friction, high chemical resistance, rigidity, and dimensional stability, among others are significantly fueling the demand of 3D printing plastics in these end-use industries across the globe.
3D printed products assist significantly in attaining economies of scale through the consumption of lesser lead time, reduced costs, and mitigated risks. 3D plastics also allow easier customization as per the consumer needs. Thus, attracting favorable government regulations across various end-use industries such as automotive, medical, and consumer goods. Asia Pacific is anticipated to progress at a CAGR of 27.1% over the forecast period. The medical end-use segment in the region is expected to witness substantial growth on account of increasing the application of 3D plastics in prototyping, custom orthodontic implants, prosthetics, medical instruments, and others.
Browse Full Report with TOC@ https://www.grandviewresearch.com/industry-analysis/3d-printing-plastics-market
Moreover, rising demand for high-quality medical instruments and components from hospitals in major economies, such as China, India, and Singapore, are anticipated to create lucrative opportunities in the medical industry. Furthermore, the recent outbreak of COVID-19 in countries such as India, China, Australia, Japan, and Malaysia are creating a huge demand for 3D printing plastics especially in a face shield, 3D printed masks, and filter cover application. Thus, the rising positive cases in the region are projected to significantly drive market growth.
The consumer goods industry is emerging as a significant end-user of 3D plastic products on account of reduced lead time offered by additive manufacturing techniques. Innovative additive manufacturing solutions enable the production of designer parts with complex geometries. Thus, facilitating the manufacturers to cater to rising consumer needs for personalized parts.
Photopolymers is anticipated to progress at a substantial growth rate over the forecast period. Massive demand for photopolymers is attributed to high consumption in the production of industrial prototypes through the utilization of SLA technology. Polyamide/ nylon is anticipated to witness the fastest CAGR during the forecast period on account of rising demand from both domestic as well as commercial applications. The demand for polyamide/ nylon is majorly contributed by laser sintering technology.
Contact Us:
Grand View Research, Inc.
201 Spear Street 1100,
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Follow Us for Latest Industry Updates: IndustryForecastnews